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VIDEO: May provides boost to General Fund revenue

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The month of May provided a good boost to year-to-date net General Fund revenue, but net revenue growth this fiscal year is about seven-tenths of a percentage point below expectations, said Jeff Robinson, a senior fiscal analyst for the Legislative Services Agency, in his monthly video memo. Growth for the year has been concentrated in income tax withholding and to a smaller extent, sales tax. The results indicate that the Iowa economy continues to expand, but at a muted pace.